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Oil and Natural Gas Well Repair and Installation
| Asking Price: | $10,500,000 | Inventory: | |
| Gross Revenue: | $6,000,000 | Real Estate: | n/a |
| Cash Flow: | $2,000,000 | FF&E: | $32,000 ++ |
| ++ included in the asking price ** not included in the asking price | |||
This “For Sale by Owner” has been under current ownership since 1997. 80% of the revenues come from well repair services while the other 20% comes from new well installation. This business is 100% service based with no retail component. They have a long standing (30 year) relationship with a major energy company that keeps 5 of their rigs busy year round and accounts for around 60% of their revenues. The company is currently being overseen in a hands off manner with capable management already in place that will stay on after the transfer of ownership. It is currently being run as a limited liability company with two locations in Southern Kansas. This business services oil wells and fields in southwest Kansas, the Oklahoma pan handle, and parts of Colorado and New Mexico.
About the Business
Year Established:1976
Employees:35 full time - 3 part time
Facilities:2 Locations with facilities both owned and included in the sale that serve as bases of operation for the 9 rigs, the office and storage for equipment.
Market Outlook and Competition:While there is some competition for the services provided, this company has seen consistent growth under its current ownership and has more work coming in than can be handled at current capacity.
About the Sale
Reason For Selling:The current owners are interested in retirement in order to spend more time with their aging parents and children.
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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